KOREAN AIR's acquisition of Asiana Airlines will not reduce cargo competition, the Competition and Consumer Commission of Singapore (CCCS) has conclude, reports London's Air Cargo News.

The CCCS has given Korean Air unconditional approval for its takeover of Asiana Airlines on February 8, ruling that the acquisition will not infringe Singapore's 2004 Competition Act.

Singapore's competition authority conducted a public consultation in July last year to seek feedback from more than 150 stakeholders, including aviation regulatory bodies, competitors and customers, on Korean Air's business combination report.

According to a Korean Air press release: "In the cargo business, the authority also concluded that the merger would not reduce competition due to the significant pressure from existing and potential competitors such as Singapore Airlines and providers of indirect cargo flights, as well as excess capacity."

Seoul-based Korean Air's network extends across 120 cities in 43 countries. The company's freighter fleet includes four Boeing 747-400s, seven Boeing 747-8Fs and 12 Boeing 777Fs. In 2020, it handled 1,599,000 tons of cargo internationally and 36,000 tons domestically.

Asiana Airlines' international cargo business covers 12 countries, 27 cities and 25 routes. Last year, the company modified two Airbus A350-900 passenger jets for freighter operations as part of plans to grow its cargo business.